Conestoga Capital Advisors Smid Cap Strategy’s Q2 2024 Investor Letter

Conestoga Capital Advisors, an asset management company, released its “SMid Cap Strategy” second-quarter 2024 investor letter. The second quarter of 2024 may be regarded as a time of moderation. Economic indicators largely reflected slowing growth and easing inflation. Equity markets are also driven by moderation theme. Large-cap stocks, as measured by the S&P 500, rose 3.9% in the second quarter, however, small-cap stocks lagged again, with the Russell 2000 Index declining -3.3% and the Russell 2000 Growth Index declining -2.9%. The strategy declined -4.82% net-of-fees in the quarter compared to -4.22% return for the Russell 2500 Growth Index. Stock selection effects in the Health Care and Consumer Discretionary sectors were the primary drivers of underperformance and were partially offset by positive contributions in the Technology and Industrials sectors. In addition, please check the fund’s top five holdings to know its best picks in 2024.

A copy of Conestoga Capital Advisors Smid Cap Strategy’s Q2 2024 investor letter can be downloaded here.